Democorruptcy Posted November 14, 2008 Share Posted November 14, 2008 Scottish house prices have suffered their biggest quarterly fall for at least 16 years, according to research by Lloyds TSB. The bank's Scottish House Price Monitor showed the average domestic property dropped in value by 4% in the three months to 31 October. It said the fall was the largest in the 16-year history of the monitor. House prices have risen by 4.9% overall this year - a big reduction on the 9.3% increase reported last year. The number of house sales also declined by 43% on the same period last year, the research showed Full story: http://news.bbc.co.uk/1/hi/scotland/7727238.stm Quote Link to comment Share on other sites More sharing options...
tehlam3 Posted November 14, 2008 Share Posted November 14, 2008 Glasgow up?!? Seems very unlikely ... Quote Link to comment Share on other sites More sharing options...
SelfDoIt Posted November 14, 2008 Share Posted November 14, 2008 Edinburgh down 7.3% for the quarter! Zipedeedoodah! Finally the numbers start catching up with reality. The post Christmas layoffs are going to cause carnage. Quote Link to comment Share on other sites More sharing options...
Bjørn Posted November 14, 2008 Share Posted November 14, 2008 The YoY stats are meaningless because they still contain pre-peak data from Q3 2007, but there are some interesting nuggets of information in the Quarterly figures: Scottish house prices Quarterly change Glasgow +6.4% South East (excluding Edinburgh) +2.2% North (excluding Aberdeen) -2.1% South West (excluding Glasgow) -2.3% Central/Fife/Perth/Tayside (excl Dundee) -6.3% Edinburgh -7.3% Aberdeen -9.1% Dundee -11.9% Source: Lloyds TSB A Quarterly change of -7.3% for Edinburgh is truly remarkable. Another three Quarters like this one and we'll see some serious prices starting to emerge. 2009 looks like it will be a bloodbath for the fools who believed that Embra was immune to the houseprice crash. Quote Link to comment Share on other sites More sharing options...
tinecu Posted November 14, 2008 Share Posted November 14, 2008 Scottish house prices have suffered their biggest quarterly fall for at least 16 years, according to research by Lloyds TSB. The bank's Scottish House Price Monitor showed the average domestic property dropped in value by 4% in the three months to 31 October. It said the fall was the largest in the 16-year history of the monitor. House prices have risen by 4.9% overall this year - a big reduction on the 9.3% increase reported last year. The number of house sales also declined by 43% on the same period last year, the research showed Full story: http://news.bbc.co.uk/1/hi/scotland/7727238.stm Glasgow asking prices are showing YoY falls: http://www.home.co.uk/guides/asking_prices...mp;endyear=2008 Edinburgh still in denial but prices for 1,2 and 3 bedroom properties all falling YoY http://www.home.co.uk/guides/asking_prices...mp;endyear=2008 Quote Link to comment Share on other sites More sharing options...
Fergie Posted November 14, 2008 Share Posted November 14, 2008 Two major fires in two days - one in Glasgow yesterday, old school by the university, bought for development into flats a couple of years ago (loads of other development of flats going on around there too); one today in Edinburgh, a half-done new build block. Pure co-incidence, I'm sure... "...the blaze, which involves two five-storey buildings under construction..." http://news.bbc.co.uk/1/hi/scotland/edinbu...ast/7728696.stm "It is understood the building had once been owned by Hutchesons Grammar School but was undergoing building work after being bought by a property developer." http://news.bbc.co.uk/1/hi/scotland/glasgo...est/7726440.stm Quote Link to comment Share on other sites More sharing options...
Bjørn Posted November 14, 2008 Share Posted November 14, 2008 Two major fires in two days - one in Glasgow yesterday, old school by the university, bought for development into flats a couple of years ago (loads of other development of flats going on around there too); one today in Edinburgh, a half-done new build block. Pure co-incidence, I'm sure... The insurance renewal negotiations will be a giggle! I wonder if the insurance salesmen will be offering a free toasting fork and a bag of marshmallows with every policy. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted November 14, 2008 Author Share Posted November 14, 2008 When it talks about "Aberdeen" does it mean only Aberdeen or the whole of Aberdeenshire? Quote Link to comment Share on other sites More sharing options...
The Fish Posted November 14, 2008 Share Posted November 14, 2008 Anyone see how this was all reported on "Reporting Scotland"? "Gloomy news" for the housing market (any price decrease apparently). Main item was a 40% off one day sale in Glasgow. Estate agent given his chance to plug the market. Opportunities for first time buyers. At the end of the piece, back in the studio, the reporter put on her most cheerful expression and stated that the good news is the market in Scotland "is not collapsing". I've tried to keep an open mind about biased reporting but I'm really beginning to wonder. Quote Link to comment Share on other sites More sharing options...
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